Monday, December 4, 2023

Wall Street closes in green and the Dow Jones rises 0.73% after Powell’s statements

Wall Street closed this Friday in green and the Dow Jones Industrials, its main indicator, rose 0.73% after the statements by the president of the Federal Reserve, Jerome Powell, at the symposium in Jackson Hole (Wyoming).

Upon completion of trading on the New York Stock Exchange, the Dow Jones rose to 34,346.9 points, while the selective S&P 500 it rose 0.67%, up to 4,405.71 integers.

The Market Composite Index nasdaqwhich groups technology companies, gained 0.94%, up to 13,590.65 units.

Powell said the US central bank will keep the interest rates high until inflation comes down solidly, but it opened the door to a possible pause in the increases and showed confidence in the growth of the country’s economy.

After the speech there was some volatility in the market and the main indices oscillated between gains and losses, but optimism finally prevailed.

All sectors closed in greenheaded by non-essential goods (1.1%), energy (1.07%), industrial (0.86%) and technological (0.82%).

Among the 30 listed of the Dow Jones, the most outstanding advances were for Boeing (2.81%), Intel (2.03%), Salesforce (1.93%) and Johnson & Johnson (1.43%).

In other markets, the Texas oil it rose to US$79.83 a barrel and at the close of the stock market, the 10-year bond fell to 4.231%, gold fell to US$1,941.9 an ounce and the dollar strengthened against the euro, with a change of US$1.0795.


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